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You can splits firsthand about this walk us through personally what happened to -- or ship -- the people who work for you.
Well very much like the the Alabama our ship was attacked by Somali pirates.
Unfortunately in our case in spite of all the efforts that we took.
Before that voyage to prevent being taken hostage we were were captured by pirates.
And torn you -- my crew member were were held captive for -- 55 days so.
That that started a a long process of negotiation with the pirates to secure their release.
And walked me rule that negotiation.
What kind communication you're having with the State Department here in the United States.
Will what was happening.
Well if -- -- negotiation was really just between the company and the pirates there was no government military or other organization involved and -- out to them.
-- we we certainly contacted them but you have to remember that what's unique about the Alabama is that it was an American crew and an American flag vessels so.
Of course the American government in the US military.
We're very much involved for us.
It was a liberian flagged vessel Indian and Bangladeshi crew.
So it seemed at that time that the US -- but just.
Kind of didn't have a dog in that fight and and and didn't.
Did not offer the same type of resources and involvement that.
Not only as good listeners and used a separate cell phone did not identify that you and the flow of the company.
He used an annual -- -- walked me through why little from the move things from what it was like.
Negotiating with these -- well first of all what we wanted to do was to deep personalize.
And and the situation because what we were dealing worth worth the lives of 28 of my crew and so for us it was very important.
To keep it polite professional and purely commercial the negotiations themselves or tedious and you never get away from the fact that you know that everything you -- and everything that you do.
Could have real life or death consequences for people half a world away.
It's very deliberate communications it's very slow.
And that's how -- -- that.
You know what they're Smart enough to me -- to have done this a bunch of times in 2008 and and.
You doesn't it doesn't take up much like that's also true that the funds that they were asking for -- -- not the type of funds that she could come up with when you went to some your colleagues in the shipping industry.
And they collectively helped out well there there is a brotherhood of the city and even though we compete with each other commercially for ships.
-- for cargoes.
We did well you know we dual band together and and this was one of those instances where I had to bang on a lot of doors were.
-- smaller company that type of money for to pay the ransom was difficult for us to to generate internally and the good people at clipper and my friend air goes throw over in Copenhagen where -- to help us out and secure the release of -- You know can I imagine a story like James is is is becoming much more common.
And I guess the question everybody's asking themselves is it -- force as opposed to giving out what -- amounted to I think somewhere between twenty and forty million dollars.
Last year on the season is at a fraction and verses.
What could be the loss to -- But that's part of the calculation is so is this essentially just a nuisance tax -- doing business for shipping companies in the region.
Twenty to four million dollars sounds like a lot but compared to the overall expenses.
Of international shipping it's really not that much.
On the other hand if there there is the longer term argument that if you -- -- ransoms.
You were encouraging behavior which could proliferate not just along the Somali coast but in other areas and it could.
Start to become political the Somali pirates are strictly in it for the business they're trying to be.
Well adapted parasites.
Not to kill their house not to create the kind of incidents that they did this week.
But we could see other groups.
See this as as as an opportunity.
A former political even terrorist stents and and that's that's really a debate here.
And anything except we're actually looking a live picture right now -- the -- Alabama as we speak and thankfully Phillips since.
Is safe but you know James approachable we'll -- your crew members say nobody -- I don't know -- -- saying my crew members -- returned home safely and and for me safely was not just physically intact but.
Mentally emotionally intact and -- -- returned to their family and all of them have now been re deployed on -- -- Smart chip and and and other ships.
So how you isn't just for business moving forward I mean I gonna have more armored -- -- onboard.
Does it raise your insurance costs what are you doing now to handle the situation -- Clearly it's gonna raise the insurance cost for the region just because there the threat level has has gone up and and as your other guest pointed out.
I think we want to be careful that we don't escalate the violence in the situation because the real cost here even though there's -- dollars and cents cost.
The real -- the human.
Element and and the hundreds and hundreds of brave she fares that are being kidnapped and traumatized.
By this event what we don't want to see this escalation and proliferation.
As far as armored.
Guard shall we say on board the ships.
That the jury is kind of out but I can tell you that myself and a lot of the ship owners that I've been speaking with about this very instant.
Aren't are not in favor of arming and weaponized -- ships we we want security in the region.
But we don't want to turn our ships into shooting galleries there 2000 ships that go through that region of the Gulf of -- every month.
There or 20000 ships worldwide the size of the Alabama or larger.
About 50000 ships that sail the -- And over one point three million C fares.
Worldwide so you really wanna start to train our economics all you want and and -- who certifies.
Thousands of ports world why do you want.
Armed ships pulling -- to every -- in the world.
What what we want is security I think it's best left up to professionals.
And and and not individual crew on on board the ships.
It's a great point and a very difficult one indeed -- I hope you'll join us again and brings up to date on on -- activities over there and Ken thank you very very much gentlemen I really appreciate what.
You guys but to the table -- -- thanks so much well.
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